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Jon Hilsenrath of the Wall Street Journal reported last week that Federal Reserve officials are evaluating the possibility of a measure that the journal describes as "sterilized" quantitative easing. How would this work, and what would it be intended to accomplish?
From the Wall Street Journal:

Germany could end up in a position where it would be constitutionally bound to leave the euro area, warns the IFO economic institute's Hans-Werner Sinn, which would force "somebody to give in and that would be the ECB." Sinn blasts the looming decision of ECB QE as an excuse to help weaker nations, exclaiming, as Bloomberg reports, "the risk of deflation is just a pretext for quantitative easing, for hammering out a bailout program for southern E

At various times since the dark days of 2008, the Bank of Japan, Bank of England and Federal Reserve have all tried to jumpstart their economies by printing money with abandon to facilitate asset purchases of an unprecedented scale. While the jury is still out on what the long-term effects of such quantitative easing might be, the worst fears of its critics — say, for example, hyperinflation — have not come to pass while many of the arguments of its supporters have been validated.

Authored by Daniel Gros, originally posted at Project Syndicate, Emerging markets’ currencies are crashing, and their central banks are busy tightening policy, trying to stabilize their countries’ financial markets. Who is to blame for this state of affairs?

Bundesbank boss Jens Weidmann, the man most closely associated with Germany's opposition to easier monetary policy, is slamming the brakes on expectations that the European Central Bank will finally go for quantitative easing (QE). He was speaking to Handelsblatt, a German business newspapers, and his comments are here: